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Stockholders' Equity
 12 Months Ended
Dec. 31, 2024
Equity, Attributable to Parent [Abstract]  
Stockholders' Equity Stockholders’ Equity
At-the-Market Equity Offering Program, or the ATM Program
Under the Company’s ATM Program, the Company may offer and sell shares of its Class C common stock from time to time up to an aggregate sales price of $150 million through an at-the-market equity offering program, or the ATM Program. During the years ended December 31, 2024, 2023 and 2022, the Company did not sell any Class C common stock shares under the ATM Program. As of December 31, 2024, approximately $126 million of Class C common stock remains available for issuance under the ATM Program.
Dividends to Class A and Class C common stockholders
The following tables list the dividends paid on the Company’s Class A and Class C common stock during the years ended December 31, 2024, 2023 and 2022:
Fourth Quarter 2024Third Quarter 2024Second Quarter 2024First Quarter 2024
Dividends per Class A share$0.4240 $0.4171 $0.4102 $0.4033 
Dividends per Class C share 0.4240 0.4171 0.4102 0.4033 
Fourth Quarter 2023
Third Quarter 2023
Second Quarter 2023
First Quarter 2023
Dividends per Class A share$0.3964 $0.3891 $0.3818 $0.3745 
Dividends per Class C share 0.3964 0.3891 0.3818 0.3745 
Fourth Quarter 2022Third Quarter 2022Second Quarter 2022First Quarter 2022
Dividends per Class A share$0.3672 $0.3604 $0.3536 $0.3468 
Dividends per Class C share 0.3672 0.3604 0.3536 0.3468 
Dividends on the Class A and Class C common stock are subject to available capital, market conditions and compliance with associated laws, regulations and other contractual obligations. The Company expects that, based on current circumstances, comparable cash dividends will continue to be paid in the foreseeable future.
On February 17, 2025, the Company declared a quarterly dividend on its Class A and Class C common stock of $0.4312 per share payable on March 17, 2025 to stockholders of record as of March 3, 2025.
The Company has also authorized 10,000,000 shares of preferred stock, par value $0.01 per share. None of the shares of preferred stock have been issued.
Distributions to CEG
The following tables list the distributions paid to CEG during the years ended December 31, 2024, 2023 and 2022 on Clearway Energy LLC’s Class B and D units:
Fourth Quarter 2024Third Quarter 2024Second Quarter 2024First Quarter 2024
Distributions per Class B unit $0.4240 $0.4171 $0.4102 $0.4033 
Distributions per Class D unit 0.4240 0.4171 0.4102 0.4033 
Fourth Quarter 2023
Third Quarter 2023
Second Quarter 2023
First Quarter 2023
Distributions per Class B unit $0.3964 $0.3891 $0.3818 $0.3745 
Distributions per Class D unit 0.3964 0.3891 0.3818 0.3745 
Fourth Quarter 2022Third Quarter 2022Second Quarter 2022First Quarter 2022
Distributions per Class B unit$0.3672 $0.3604 $0.3536 $0.3468 
Distributions per Class D unit 0.3672 0.3604 0.3536 0.3468 
The portion of the distributions paid by Clearway Energy LLC to CEG is recorded as a reduction to the Company’s noncontrolling interest balance. The portion of the distributions paid by Clearway Energy LLC to the Company was utilized to fund the dividends to the Class A and Class C common stockholders described above.
In addition to the quarterly distributions paid to CEG, Clearway Energy LLC distributed an additional $21 million to CEG during the year ended December 31, 2023, which represents CEG’s pro-rata share of distributions that were paid in order for the Company to make certain additional tax payments primarily associated with the sale of the Thermal Business. The Company’s share of the distribution was $30 million.
On February 17, 2025, Clearway Energy LLC declared a quarterly distribution on its Class B and Class D units of $0.4312 per unit payable to CEG on March 17, 2025.